Quanta Services (NYSE:PWR) Price Target Raised to $472.00 at Truist Financial

Key Points

• Truist Financial has raised its price target for Quanta Services from $375.00 to $472.00, indicating a potential upside of 18.74% from the stock's previous close.
• Quanta Services reported $2.48 EPS for the last quarter, surpassing estimates, with a revenue of $6.77 billion, up 21.1% year-over-year.
• Analysts have mixed views on Quanta Services, with a consensus price target of $386.05 and a majority rating the stock as a “Moderate Buy.”

Quanta Services (NYSE:PWR - Get Free Report) had its price target upped by equities research analysts at Truist Financial from $375.00 to $472.00 in a report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the construction company's stock. Truist Financial's price objective points to a potential upside of 18.74% from the stock's previous close.

A number of other analysts also recently weighed in on PWR. Argus set a $375.00 target price on shares of Quanta Services in a research report on Monday, May 5th. Northland Capmk cut Quanta Services from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 2nd. Roth Capital reiterated a "buy" rating and set a $450.00 price objective (up previously from $350.00) on shares of Quanta Services in a research note on Tuesday, July 29th. TD Cowen raised their price target on Quanta Services from $335.00 to $355.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, BMO Capital Markets downgraded shares of Quanta Services from an "outperform" rating to a "market perform" rating and raised their price target for the company from $352.00 to $400.00 in a research report on Thursday, July 17th. Eleven equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Quanta Services has an average rating of "Moderate Buy" and a consensus price target of $386.05.

Quanta Services Stock Up 0.6%

Shares of PWR opened at $397.51 on Monday. The firm has a market cap of $59.23 billion, a P/E ratio of 61.53, a P/E/G ratio of 2.71 and a beta of 1.10. The stock has a 50 day simple moving average of $375.39 and a two-hundred day simple moving average of $318.81. Quanta Services has a 1 year low of $227.08 and a 1 year high of $424.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.37 and a quick ratio of 1.32.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The construction company reported $2.48 EPS for the quarter, beating the consensus estimate of $2.44 by $0.04. The firm had revenue of $6.77 billion during the quarter, compared to the consensus estimate of $6.55 billion. Quanta Services had a net margin of 3.73% and a return on equity of 18.41%. The company's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, analysts forecast that Quanta Services will post 9.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Quanta Services

Several institutional investors have recently bought and sold shares of PWR. Copia Wealth Management boosted its holdings in shares of Quanta Services by 509.1% during the 2nd quarter. Copia Wealth Management now owns 67 shares of the construction company's stock valued at $25,000 after purchasing an additional 56 shares during the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Quanta Services by 159.3% in the second quarter. SOA Wealth Advisors LLC. now owns 70 shares of the construction company's stock worth $26,000 after buying an additional 43 shares in the last quarter. Banque Transatlantique SA bought a new position in Quanta Services during the fourth quarter valued at approximately $25,000. Solstein Capital LLC grew its holdings in Quanta Services by 185.7% during the 2nd quarter. Solstein Capital LLC now owns 80 shares of the construction company's stock valued at $30,000 after buying an additional 52 shares in the last quarter. Finally, Quarry LP bought a new stake in Quanta Services in the 4th quarter worth approximately $26,000. 90.49% of the stock is owned by hedge funds and other institutional investors.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.

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